"Production and commercialization are the milestones that distinguish a successful enterprise from aspirational claims, and Enovix is building the first advanced silicon-anode lithium-ion battery production facility in the U.S." said Harrold Rust, Enovix co-founder and CEO. "We believe the batteries we produce will provide the energy density our customers need to continue mobile device innovation, and we're creating jobs for people in our local community and throughout the Bay Area. We've added about 60 new people over the past year, and we expect to add about 60 more as we fully ramp our production through 2022."
Enovix has designed, produced, and shipped an advanced silicon-anode lithium-ion battery that combines increased energy density and high cycle life. Its proprietary 3D cell architecture enables Enovix to use silicon as the only active lithium cycling material in the anode. The company has advanced battery development agreements with several category-leading mobile device companies.
The Enovix production process is designed to leverage much of the conventional lithium-ion battery manufacturing process. It includes the same electrode fabrication process and the vast majority of pouch packaging and formation, to which Enovix adds pre-lithiation. The company has applied an innovative approach, developing proprietary production tools that are 'drop-in' replacements for the winding or cut-and-stack tools in conventional pouch lithium-ion battery cell assembly. Enovix has been awarded 89 patents and has over 50 more applications pending, reflecting its breakthroughs in both battery design and production. For more information, go to www.enovix.com.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws, including with respect to the completion of its initial production facility, qualification and commercialization of its advanced silicon-anode lithium-ion battery. These forward-looking statements generally are identified by the words "intend," "future," "may," "will," "would," "will be," "expect," "project," "believe," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. All statements, other than statements of present or historical fact included in this press release, regarding the timeline for completion of the Company's initial manufacturing facility, qualification and commercial delivery of its advanced silicon-anode lithium-ion battery are forward-looking statements. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release.
There may be additional risks that the Company presently knows, or that the Company currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. The Company anticipates that subsequent events and developments will cause the Company's assessments to change. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements as predictions of future events, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable law. The Company gives no assurance that it will achieve its expectations.
SOURCE Enovix Corporation
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